Mumbai-based fashion quick-commerce startup ZILO has raised $15.3 million in a Series A round led by Peak XV Partners, with existing backers InfoEdge Ventures and Chiratae Ventures also participating, the company said.
Peak XV invested $8 million, while InfoEdge Ventures and Chiratae Ventures put in $2.5 million each. The round also saw participation from venture debt firms Alteria Capital and Stride Ventures, along with a set of angel investors that includes Lalit Keshre, Kunal Shah, Sachin Oswal, Ayyappan R, Abhishek Bansal, Sreevathsa Prabhakar and Preeta Sukhtankar, among others.
What ZILO is building
ZILO is positioning itself in a tough corner of quick commerce: fashion, where sizing, returns, and “try-before-you-buy” habits make logistics trickier than grocery delivery.
Founded by former Flipkart and Myntra executives Padmakumar Pal and Bhavik Jhaveri, the startup promises fashion delivery within 60 minutes in Mumbai, and offers home trials and instant returns. It currently works with 200+ fashion brands, the company said.
A key part of ZILO’s pitch is that speed doesn’t have to mean “random assortment.” The company recently partnered with celebrity stylist and fashion editor Anaita Shroff Adajania, who joined as style director and equity partner, to deepen curation and styling on the platform.
Where the money goes next?
ZILO says the fresh capital will be used to scale operations, invest in technology, step up brand building, and expand into new markets, with plans to expand beyond Mumbai over the next year and add a few more cities over the next 12-14 months.
On the operations side, the company is building a vertically integrated model and a “fashion-first” supply chain designed for speed, an approach that blends quick-fulfilment infrastructure (including dark stores) with select brand outlets, as described by Fortune India.
What founders and investors are saying?
Co-founder & CEO Padmakumar Pal framed the fundraise as a vote of confidence in ZILO’s core bet: “fashion and speed don’t have to be trade-offs,” adding that the company wants to build a new category where curated fashion meets quick-commerce expectations.
Co-founder Bhavik Jhaveri said ZILO’s aim is to make fashion discovery feel less exhausting, replacing “endless scrolling” with tighter selections, expert styling, and faster fulfilment and that the capital will help accelerate geographic expansion and deepen platform investments.
From Peak XV, Kriti Gupta (Vice President) pointed to changing customer preferences and argued that fashion shopping has largely stayed the same, positioning ZILO as a potential rework of that experience.
Why this round stands out
This cheque is being watched because it signals investor appetite for vertical quick commerce beyond grocery and food delivery, where the model is better understood. Peak XV was preparing to make its first bet in vertical quick commerce via ZILO, and that the startup ultimately raised more than the amount it was in talks for.
Peak XV’s history in the category, having made a small seed investment in Blinkit (then Grofers) in 2014 and described this as Peak XV’s first multi-million-dollar move in quick commerce.
The big question ZILO now has to answer
Quick delivery is easy to market, hard to make durable in fashion. Returns, inventory depth, and unit economics can swing quickly, especially when customers expect both speed and choice.
ZILO’s investors are essentially backing a specific view of the future: that if you combine tight curation, fast fulfilment, and a more controlled operating model, you can make fashion quick commerce work at scale.
Whether the category becomes a mainstream habit or stays a premium, city-specific convenience, will depend on how well ZILO executes its expansion beyond Mumbai in the next year.
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